Managing family wealth is a complex task, requiring coordination with professionals in many fields: lawyers, accountants, property professionals, tax advisors, private bankers and asset managers.

 

Your own SFO or MFO

The costs of these services can mount up considerably – one way of keeping costs down is to set up your own family office, run by a single team of professionals, which can be hired directly by you the client. SMT can provide a useful service and admininstrative platform to assist you set up your own structure, a “single family office” (SFO) . Alternatively SMT can set up and manage such an office on your behalf.

 

This strategy has been used by many wealthy families with great success, allowing them gradually to offer their services to other like-minded families, thus creating a “multi-family office” (MFO). MFO’s have often grown to a size where they in fact qualify for full private banking status. But the compliance and regulatory costs of a bank are high, which means that there are currently several small private banks for sale at very attractive prices.

 

SMT family office

SMT also provides its own family office service for clients who do not require a full SFO of their own may not be cost effective. SMT acts as a single point of contact organising and coordinating your affairs and representing your family in the best way possible.

 

This can include travel, accommodation and other “concierge services”, a full range of banking services and tax planning, as well as multi-generational wealth planning and a complete range of investment services including investing your capital, managing portfolios and conducting due diligence on investment opportunities and the selection of fund managers.